Debts Recovery Tribunals and Appellate Tribunals
BANK OF BARODA vs MR BORASTE DEELIP RANGNATH on 1 April 2019
Lo h-:t
Ptesented on | 17/07/201'5
Registered on : 29106/2016
Transfered on : 0340/2016
Decided on : 0/04/2019
Duration: 02 (D)/09 (M)/02 (Y)
IN THE DEBTS RECOVERY TRIBUNAL - III AT MUMBAI
DATED THIS 1"t DAY OF APRIL 2019
PRESENT : SHRL T S ASOKRAJ
PRESIDING O!FICER
T O A No. 1736 of 2016
Dena Bank, a body corporate constituterl untlel lhc )
Banking Companies (A(rluisitioD and Transfer ol )
Url.lertaking) Act l970 and havirrg its Hc.1d Olli( e at )
l)-.na Corpolatc Cenlle, C 10, "G" Block, Banclra- )
Kurla Conrplex, Bandra (East), \Iumbai'100 051 and )
its Bhir.hi1k.rli Eranch at Remrka I'laza, Opp Cl'O, )
Tr\ ambak Iloa(l, Nashik - '122 001 throuii its )
Chiel N{anager'
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VERSUS
Applicant
Dcfendant No. 1
Dcfcirdant No. 2
Defclldant No. J
DefL'lrciant No.,1
l. \lr. Boraste Deelip Ranglrath,
I'ost: Halnore, Tiiluk : Dindoi,
Dist: Nashik - 422 001
2. N'lr. Brllaste Shi
Post i Hn
a1
Dist : N
3, NlI, B
Post:
Dist :
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Nashik - :122 001
4. NL. Borasle Sampat Nlotiram,
Post: Hatnorc, lalrrk : Dinclori,
Dist: Nashik -,122 0(11
5. \fi'. llolastc Strhcbrao Sitaram,
Post : t lalnore, Taluk : Dilrdori,
Dist : Nashlk - -122 Llol
Pr'.senl: Shri. C It Shah, Aclvocatc, i/b llajesh L Shcihia, Corurscl ftn ,\pplicant Llank DcfcDLlallts Iemained c\ parte )
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I)efendait No. 5
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Oldci l'OA l716 ol 2! 16 (l'\ F|tcl1l'inlll This Oiginal Application (OA) is filerl b\' APPlican! unclcr Scctiul 19 of the Ilccovcry oI Debts Due to Banks and linancial lnstitutions Act, l993 ("RDDB Act")
(sincc changecl to "Rccovcry ol D-"bts and Barlkruptc] Act, 1993") agahst the Defendants lor the recovcrv o[ a sum aggrcgating to Rs. 21,10,-131/ (RtrPe-"s Theni)
C)nc lacs 1 en thousard !-ou r hundred and l'hirtJ' Onc on ll ) in n'spect of thc r a r ious (redit facilitics mentbned iI the OA alollgi{'ilh cost, char8,es, fl,,r/dlrtt' lilr frrhrr'
interest as stalccl ther-"in from the date of filing of this OA ti1l its Parties:
Applicant is a B.rnk \\,ithnr Sec. 2(d) oI
DeIe[dant No. 1
Dpfend.rnt Nlr I to5are individuals
and availed crcdit facilitics lrom tlre App provilled additional securitJ
licant for which Delenr.lan
of personal guarantee
turist bv occuprltion
to
tNo.2to5
in dilierent
by n'a1.
combinations
Iractual 44q!I :
Citations and Judicial Treatment
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1. (a) As pcr OA, A oI'lcrn Lo Rs. 2,33 t No. 1, crcdit fl.ilities in the form "TL") and Crop Loan (rrmler DKCC Scheme) o{ and "(ll." are her'einaftcr coll-"ctivch, rcferr-.d to as ed on thl- docum-.ntation and se.uritl creali()n bI hinr ty of perso al guarartee from Dclen.lant \o. 2 and 3 {or- guarantee from Delendant No. 2 tr d 3 Ior CI-.
(b) Ple and tou,ards availing the Ctcdil Fa(.ilitit's, Dclerldnnt No. I created moltgagc ir1 respect ol his n$icultural land l(xlatcll in \'illage Hatlloe, Tnlrrk Djndori, Distr'ict Nashik, bv exccuttlg Declaration undcr Sec. 5 of \Itrhalashtra ProYision of facilities for Agricultural Credit by Bank Act, 197,1 and Setting thc sanle registelecl rvith SRO, Dindori, bcsicles getting thc Declnlation rcgister.d in thc 7 / 12 ttegister un(ler Nlahrrashtra Lanci Revenuc Code, 1966.
O Though lhere was a reference in thc OA of Iicphisement of ihe outstandini] amourt of Cl,, there \,,,er'e no detdils thereon as nlso in the Claim .\Ifidavit Iilcd subsequentl). Applicant Iiled a Pursis on 29/03,/2019 dnriflhg that thcrc u,as no Rephasement of CL (rvhich rvas taker on rccorrl as "Erh "37").
(d) r\s pcr thc OA, Dcfendant No. 1u'as highll irregular in operating tirc accounts of the Crerlit lacilities resulting in huge anonnts oI intL,rests anri seYeral instalments of l'l- remaining unpaid. lt is iurther aver'rc(l that Order TOA l7:6ol 20l6 (Er fdtcl (Finrll nt No. 1 also .ommitted !arious ir'regulnrities and brcachcs oI thc, ditions of the sanction .tnd va ous seaurity documents. Conscque issucd Recall Notifti to all the Defen.lanls, calling upon then to repay outstandirg an1ount of thc Crcdit Facilitics. C)n the Iailure oa the Def.rndants to repay, the OA has bccn filccl
2. (a)Tdbunal, after satisfying itscll thc limitiltion ancl lallmg D crccl issue of Surrnrons [o sent by Registercd Post with got on the Defendanls. Applicant filcd lvithin its iet.Iitolial Dcfcndants.
(b) t'r-anslcr Noticcs lo
(c) As cithcr ir pcrson or through advocate an.l file L)L-fL'ndants rrcrc sct cx parte on 07/12/2018 by an llritte e
3. As by thc T1ibunt11, Appltnnt filed, through Shli. Ja)'ant Bapal, Cllief Nlanager, CIaim Alfidavit enclosing various Documcnts as Annexures (w,hich have been takcn on rer:orcI bv the Tribunal anrl markert ,is "Exhibits") .1nd .1lso filed Certified Slatcmcnt of Account togcther (,ith the Ccrtilicatc isscrcd unrler lnlormation Terlrnologl Acl, 2000 and Ccrtilicates under ljanker's Books of Evir-lence Act, 1ij91, as Annexules (which ale rralkell as [xhibit "31", "32", "33", "31"& "35"). Of ihe Docunrenls Iilecl ds llxhibits dnd gonc through b)' the
1. Order TOA lll6 ol20l6 (LrJrxrte)(|inall 'I',-ibunal, thc follou'ing arc Iound r€lcv.1Dt ior thc l'rihunal to (or-$ider and dispose of thc OA on mcrit. Claim made ount filed bv ihe Applii:ant, certitietl as per Bankers Books 1E91, tallie(l wilh claim rn C)A. Iurther, the case ol the is basccl on !arious L)ocurtclrts (indudnrg thc above rclcrred Exhi ) filed alongu,ith Clainr Affictavit, u'hich is a su orn Statement, r\'hi.h htrs gone unchallengcd. lu n1Y view, thcre is no qucstion of (lislrelieving fh' Erhibits ancl Claim AlfiLiavit and other cvillen.es lct in b) thc Appticant and thc Applicani has provcd i1t .i15s b-"1'ond reasonablc lloubi k) the extcnl of sanctioning the Crcdit !acililies,.o pletinS Docunrerlttltion and disbursemcnt Exhibit Docur1re]rt S, NO, Faciliq, Loan Proposal & BNl RePort (Offi.e cuPlJ "'14' IJvpothecation Agreemc t (Original) " t5" Demand Promissor-\' Notc Pelsonal Cuarantc'e of D (Original) I 'l'crm Loat (Rs. t,50,000/-) "20" I-oan Copl ) Proposal & BM Report (O{fice (Odghal) H "21" "22" otc (Oliginal) Dcmand "25" Personal Guarantee | ,o,,ro*,, of Del .1 &5
2. Crop Loan (Rs.2,33,000/-) "28' rvay of Declaration bt' Regd w.ith SRO, Dindori " 29' Rccall Notice (Orf ice Copv) oI the Creclit lacilitics. "1.3" (Origilal) Common for Creclit Facilities all
The Applicanl has claimed interesi at the rate oF 10.75"6 p.ri. u,ith vearly rests for TL, al tlle rate of 12.25:a p.a. with Yearly rests Iol CL, both from the date of filhg of thc C)A till its reaUsirii.n. I laving regar(ls to Scc. 19(20) of the RDDB Act (l\ldch is aftilogous to Sec. 34 of Civil Pro.edure CoLlc, 1908) the.ontract bchvcL'n the Applicant and l)eiendants ( oncs to an L-nd on the filrng of the OA Thus the Tribunal has discrclion in ilr{arcling perldente litc and future intclest. Consi(lering th-" rale of iitcrr-st charged bl banks for similal OrJcr IOA l716ol20l6ll-.\ p! .)(lirrl) I arn oI allowecl irncl the opinion thal intelest of justice $ill b-" scrvcd iI the rate awarded at thc ratc oI 10.0090 p.a. or sinplc interest bnsis for bolh the ln the light oI above discussions, ihe Original Application is being Order passerl on the Iollowing terms.
(i) This Original ,\ppli.atior1 a1ld clecree io be issued on thc of the ,{}rplicant as under - (I{upecs Sixtccn lacs Seventv l!\,o thoLrsand Nine {4...,q cl
(ii) There shall b-" a
(a) Ior 6, cn onl,v) alongwith fLrture interest at thc r.lte oI (on si1}lple irtercst basis) fiom the .lirte of filing of the till thc date o[ rea]isation in respect of 'l'cmr Loarl Arnount tur TL"); (b) Rs.4,37,5t4/ (llupccs !'our lacs Thirtl Seven tllor1s.1nd Fivc hundred ard fourteen only) akr:ri},ith fuhrre intcrcst at the Iate ol 10.00?; pcr annun (rn simple intercst basis) from the date ol filmg of the Original Application till the dtlte oI retllisation in rcspect ol the Clop I-oan)("I)ecrecd r\mourt lor CL"); terms set out bclou,;
(iii) Detendant No. 1, thc Borro$'er, Dclcnclant No. 2 .1nd 3, ihe Cuiuantors, ale ordcrcd to pa\', jointly anrl scvcrallr', to the -ApPlicarlt, within a lernr.l of 30 dals, thc L)ccrc.'d Amount for'lL ancl, rn ihc event of ihc s;riel Delcndanls ,ailing b pav and discharge the ducs as (lirected or lI1 the evcnt oI shortfall, the assets forming securit) f()r thc Icrn l.oan (covcrecl b) [xh "]1" l'ei1lg the moveable assets chargecl & Exh "2E" beirlg tile inlmovcable PropL-rties mortgage(l) be attadied / taken poss€-ssion oI and bc extent of a)r'l.i IOA l7:16 ol 2!16 (1,\ l]rrt€) lFirdl) of s t o.2 attached and Loar,(covcred b), Exh "21" being thc rcalisinli the dues / shortfall, as lh-o ctlse ma1' be, arrrl shortfall, the said Defcndants be procccdccl against pcrs }rersoft1l dccree and business .lsscts /' No. l and personal assL-ts / estat-Ds of sold for rcalising the rlues / shortfall, as
(iv) Defendant No. I, the Bollou,cr, l) No. 4 ancl 5, tlte Gllarantos, itle orrlercd to pay, joinih an ant, rviitin tr pcriod of 3t) days, the Decreed failing to pav and d Lrvcnt of ihe saiLl Defendants d or ir the cl,ent ol shortfall, lhe assets formirg movcablc nlortgageLl) "28" b-"n1g thc imnlo\'-"ablc proferties possession oI ancl be sold to thc exlent of its the casL' 1nav be, and in the evenl oI iurther dants be proceeded against personall) bv rirav of business assets / personal assets / cstates of Dclcndant No. per'sonal assets / cstatcs o[ DeF-"ndal1t \o.4 and 5bc atia.hed an.l lising the ducs / shortlall, as lh-" cnsc mav be;
(v) Base.l o. th-" O ginat Documcrlts placcd befue this Triblmal, suPpoltcd bY the Ple.rdil-Igs, it is Dcclarcd that thcre is a vaItl, subsisting alrd cnloreahlo 1ro1tf]age over thc immovcablc properties des.libc(l in Erh "l-1" anrl Exh "21" rn favour of the Applicant virlidh, sccuring lhe Term Loan ancl CIop Loan; Ord$ l'OA I736 of20l6 (Lx'parte) (Final)
(vi) Based on thc Original l)ocumelts ptaced before this Tribunal, suPPoltcd b,v the ple.rdings, it is Declared that thcrc is;r lalid, subsisting.rnd t'nirx'e;rblc mortlinge ovcr the inmoveable propcrlies describcd in lxh "2E" nl favorrr of thc Applicant validl)' securing ihe Term Loan and Crop Loan;
(vii) Dclendant No. 1 to 5 arc directed to dcclare, orl oath, to the Rccover) Officc'r', Debts llccolery Tlibunal tll, Nlumbai, bolh mo\eablc of thejrs as also L)efcndant No. I is Llirccterl to dcclarc, and immoveable asscts of the business crlflicd (n1 b! attachment and sale as ciireclecl under Clausl' (iii (\iii) Delendant No. 1 to 5are injuncted frorr "71" & "21" anel Exh "2E" as also above i]r any manner \,!ha Amounts under Clause (ii)
(ix) Recovery Ccrti{icates be Recoverv
(x) Parties are (Pronounccd in opcn CoLlrt) Datell : ln April20l9 and him for able asscts ble of / or Clause ( ass-"ts desclibcd in Exh as pcr Clause (r'ii) recovery of Decreed per abovc decrees arld sL'nt to th-" ll1, Nlurrbai; beforc thc llecoverl C)fficer', Debts Ilccovery bc scnt to all concerrred frcc ol cost arlcl ]ile be.onsigrled Presiding Officer, Debts Rccoven fribunal - lll, Nlumbai. to records.